GW Pharmaceuticals today reported further positive clinical trial results with its cannabis-based medicine and said a UK regulatory hearing on the product was expected within six months.

The news, given alongside results showing a net loss of é13.7m for the year to Sept. 30 é helped lift shares in the biotechnology company 5.1 per cent to 123.5p.

GW's under-the-tongue cannabis spray Sativex has won qualified approval in Canada for treatment of the symptoms of multiple sclerosis and neuropathic pain, but it is still awaiting a green light in Britain.

UK approval is viewed as crucial, as it would open the door to the larger European market. But the registration of the medicine has proved more complicated and lengthy